He added that this progress had been made possible through close cooperation and genuine partnership between the Ministry, its affiliated entities and companies, and investment partners, supported by the full backing of the political leadership and the government. The Minister also stressed that transparency and credibility had been the cornerstone of the sector’s approach to addressing its various challenges.

Badawi noted that the Ministry is working in coordination with the Ministry of Electricity and Renewable Energy to update Egypt’s energy strategy, with the aim of accelerating the increase in renewable energy’s share of the national energy mix to 48% by the end of 2028. He explained that this would help reduce reliance on natural gas for electricity generation, allowing greater volumes to be directed towards the petrochemicals and fertilisers industries, thereby supporting national industry and maximising added value.

He added that the mining sector represents one of the most promising pillars of the Egyptian economy, given its significant potential to support a wide range of industries and attract further investment and partnerships. He noted that the sector is entering a new phase built on structural and legislative reforms, alongside a comprehensive modernisation of its regulatory framework.

The Minister also welcomed the Cypriot side’s approval of the development plan for the Cronos field, reaffirming Egypt’s commitment to cooperation with Cyprus and international companies to maximise the utilisation of Egyptian infrastructure, to which the field will be connected. He stressed that this cooperation would help transform Cypriot gas resources into economic value, delivering mutual benefits for all parties involved.

During the seminar, a number of executives from international and local companies shared their experiences in the Egyptian market and highlighted positive developments in the investment environment over the recent period.

Dalia El Gabry, Vice President and Country Chair for Shell Egypt, stated that the success of long-term partnerships depends on alignment and transparency between governments and investors. She praised the reforms implemented in the sector, particularly those related to improving commercial agreements and maximising the utilisation of existing infrastructure.

She cited the Mina West gas development in the Egyptian Mediterranean as a successful example of swift and unconventional cooperation between the Ministry, EGAS, the Egyptian General Petroleum Corporation (EGPC), and the project partners, noting that the project is progressing steadily towards the start of production.

For his part, Eng. Sameh Sabry, Executive Vice President for the Middle East and North Africa at Harbour Energy, affirmed that Egypt has become an attractive destination for investment thanks to the reforms introduced in the sector over the past two years. He commended the package of incentives launched by Minister Karim Badawi to boost production and address the natural decline of mature fields, in addition to the significant progress achieved in settling outstanding dues.

He also highlighted the company’s success in connecting one of its new discoveries in the Disouq field to production only two months after its discovery in October 2025. He added that the company is targeting the start of gas production from a new well in the Fayoum offshore field, in cooperation with BP, during the current year.

Meanwhile, a senior executive at Sukari Gold Mines, representing global investor AngloGold Ashanti, described the company’s investment experience in Egypt through the Sukari Mine as highly positive and successful.

She added that the company had mobilised all available capabilities and adopted the latest technologies and international best practices to extend the mine’s lifespan and increase production rates, emphasising that Egypt ranks among the company’s top strategic priorities rather than being viewed merely as an emerging market.

Omar Abdel Nasser, Managing Director of Canada’s Lotus Gold, also praised the developments taking place in the mining sector, particularly the launch of Egypt’s nationwide airborne geophysical survey programme for the first time in more than 40 years. He noted that the initiative would help reduce exploration risks and stimulate mining investments, alongside ongoing efforts to modernize the licensing system, activate the “one-stop-shop” framework, and launch the electronic bidding portal.

At the conclusion of the seminar, the Minister stressed that human capital remains the sector’s most valuable asset, emphasizing that the safety of workers and environmental protection are top priorities across both the petroleum and mining sectors.

He also highlighted the launch of a training programme for 50 promising professionals from the mining sector at Murdoch University in Australia. The first group, comprising 20 trainees, has already begun the programme as part of the Ministry’s strategy to build qualified talent capable of supporting the sector’s development and expansion plans.

The Minister concluded by expressing his appreciation to employees across the petroleum and mining sectors, commending their around-the-clock efforts at production sites, fields, offshore platforms, refineries, and petrochemical projects to secure the country’s energy needs, support development efforts, and improve citizens’ quality of life.